Page 17 - Us Markets

Kent RO Systems to enter US market, targets Rs 2,000 cr turnover in 3 yrs

Home-grown water purifier maker Kent RO System aims to enter the US market next fiscal and expand its appliances portfolio as it targets a Rs 2,000 crore turnover in the next three years, its Chairman & Managing Director Mahesh Gupta said. Besides, Kent RO Systems, which has invested Rs 500 crore on expansion in the last three years, has plans to invest Rs 300 crore more to set up a new fan manufacturing unit at Yamuna Expressway in Uttar Pradesh, he said. The company, earlier known for water purifiers, is diversifying its portfolio and enhancing its presence in the appliances segment, especially small kitchen appliances. Gupta expects new categories to contribute half of the revenue in coming years. Over its foray into the US market, Gupta said Kent RO System has entered into a brand licensing agreement with Black & Decker. As part of that, it will manufacture and ship its range of water purifiers under the brand name of the Maryland US-based manufacturer. "We will be going .

BlackRock quarterly profit rises on strong assets under management

Hopes of a soft landing - a scenario where inflation eases without a sharp rise in unemployment - have cheered markets in recent months

Leading domestic pharma Companies to see 9-11% revenue growth in FY24

Revenue of 25 leading domestic pharmaceutical companies is expected to grow 9-11 per cent in the current fiscal year, as per Icra. The projected revenue growth in 2023-24 will be primarily supported by 11-13 per cent expansion in the US market and 7-9 per cent growth in the domestic market, while revenues from the European market and emerging markets are expected to rise 11-13 per cent and 13-15 per cent, respectively, the rating agency said in a statement. "Icra expects the revenues of a sample set of 25 Indian pharmaceutical companies (which account for 60 per cent of the overall revenues of the Indian pharmaceutical industry) to expand by 9-11 per cent in FY24, post a year-on-year growth of 10 per cent in FY23," it noted. Icra said it foresees research and development expenses for its sample set of companies to stabilise at 6.5-7 per cent of their revenues as they will optimise spending, focusing more on complex molecules and specialty products against plain vanilla generics. Th

Alembic Pharmaceuticals clinches eight USFDA approvals in Q3 FY24

The same day, Alembic Pharma's share price rose to 3.55 per cent, ending the day's trade at Rs 792 apiece on the BSE

'Everyone got burned': Wall Street missed great stock rally of 2023

Blended together, these three calls - sell US stocks, buy Treasuries, buy Chinese stocks - formed the consensus view on Wall Street

Sensex up 930 pts, Nifty tops 21,150 as Fed sounds dovish; IT, Realty soar

Closing Bell on December 14, 2023: At close, the Sensex index stood at 70,514, up 930 points or 1.34 per cent, while the Nifty50 settled 256 points, or 1.23 per cent, higher at 21,183

BoE set to hold interest rates at 15-year high amid economic concerns

The Bank of England is set to join its peers in the U.S. and Europe in keeping borrowing rates unchanged at its policy meeting Thursday despite mounting worries over the state of the British economy. The central bank is expected to keep its main interest rate at a 15-year high of 5.25 per cent, where it has stood since August. Holding that high rate follows two years of hikes that targeted a surge in inflation, first stoked by supply chain issues during the coronavirus pandemic and then Russia's invasion of Ukraine, which pushed up food and energy costs. Its decision comes during a busy pre-Christmas bout of central bank activity, with the U.S. Federal Reserve and the European Central Bank also set to keep their main borrowing rates on hold at multi-year highs. The Bank of England is widely thought to be further away from cutting rates than the Fed or the ECB, with inflation in the UK higher than in the US or across the 20 European Union countries that use the Euro currency. The Ba

India moves to elite club of nations as mcap tops $4 trn for first time

Stocks outside the top 100 universe have made a significant contribution to the mcap growth this year

Pharma exports may return to double digit-growth rate: Pharmexcil

Bhaskar said while exports to North America were up 8.85 per cent during April-October, those to the US increased 9.58 per cent

Gold prices hold steady as investors awaits key US inflation data

Core US CPI month-over-month is expected to have risen 0.3% in October, with a year-over-year increase of 4.1%, a poll showed. Both estimated gains are the same as in September

Glenmark Pharmaceuticals receives USFDA approval for generic Prolixin

Prolixin is a prescription medication used to treat schizophrenia and other mental/mood disorders

Lupin introduces generic version of Zemuron Injection in United States

The newly introduced Rocuronium Bromide Injection is available in two formulations

US sales momentum, margin gains to support pharma major Cipla's stock

Led by the US market which rose by 31 per cent, the company posted a 16 per cent growth in revenues

Sensex leaps 394 pts, Nifty ends at 19,811; Auto stocks gain most, PSBs dip

Stock market highlights on Wednesday, October 11: The BSE Sensex closed 394 points higher at 66,473 after easing from the day's high of 66,592. The NSE Nifty ended at 19,811, up 120 points

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

Wall Street shows mixed response, dollar gains after inflation data

The tech-laden Nasdaq was modestly higher, the S&P 500 was essentially flat, while the Dow turned negative

Sensex sinks 256 pts, Nifty ends below 19,300; SmallCap index holds fort

Closing Bell on August 31, 2023: Bajaj Finance, IndusInd Bank, Axis Bank, HUL, SBI, Power Grid, Nestle India, TCS, Tata Motors, JSW Steel, Bajaj Finance, ITC, and RIL slipped up to 1.2 per cent

US treasury 10-year real yield exceeds 2% for first time since 2009

Benchmark rose as much as 6 basis points to 2%, before easing little under that threshold, extending rise from 1.5% since mid-July. 30-year real yield up 6.6 basis points to 2.14%, new peak since 2011

Q1 a washout, exporters pin hope on North America for a turnaround

Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods

US stocks slide as traders bet on more rate hikes by Federal Reserve

Europe's Stoxx 600 index sank the most in two weeks